CTIB - Yunhong CTIannounces $1.5M private placement of preferred stock

Yunhong (CTIB) enters into an stock purchase agreement with an investor, whereby the investor made a $1.5M strategic investment in Yunhong CTI in exchange for 170,000 shares of the Company's Redeemable Series B Convertible Preferred Stock."Earlier this year, we announced several initiatives to reduce costs and improve our cash flow to further enhance shareholder value. This equity investment is an important step that will enhance our ability to invest in key customer relationships and support our operations. In summary, we view this investment as a strong vote of confidence in our overall strategy to simplify our business and focus on profitable, growth-oriented product lines and prioritize investments that enhance our manufacturing capabilities to better pursue attractive growth opportunities," said Jennifer Connerty, CFO.

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Yunhong CTIannounces $1.5M private placement of preferred stock